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I thought that had been answered in posts yesterday.
No information out of the company until uplisting unless absolutely necessary.
I suspect that the 8K was necessary as a requirement for the audit.
True.... A company can't sit on material information just because they are in the uplisting process.
They can choose to not issue PR's that they might ordinarily do,
For example.... Say that DEC has come out and done the stack test.
JB would ordinarily issue a PR to that effect, but probably not do so now.
Is that material? Not really.
It becomes material when DEC issues a permit based on that stack test.
Would it be material if they have completed building a second processor unit? Not really. Not until they have a permit to operate it.
JBII can go quite about a lot of things without being in danger of violating the SEC material disclosure requirements.
Actually I thought it was a well thought out reply by nobull.
Some points I disagree with.
Specifically, there is no news to update as far as I understand the situation. So a web site saying no news and a PR firm saying no news is of little value.
What they might say is that we are bidding and not winning TO's. Again, that won't help the share price. It might make folks feel a little better by knowing that the company isn't sitting still.
There was quite a discussion about fluff PR's in the past. The consensus at that time was no news is better than fluff news. I happen to agree with that philosophy.
As far as the eye scanner suggestions, they sound good to me.
Based on that link you posted about stack testing, there is quite a lot of setup and equipment involved.
It may take DEC a bit of time to get everything scheduled and on site.
Nice link by the way.
An apples and oranges comparison.
You state that if a company has it's permits revoked.....
Companies don't have permits, facilities have permits.
If company A buys company B's facilities then company A can operate that facility.
Scion posted a link to a book about permitting. Interestingly enough it discusses the chemicals that require permitting under the clean air act. More importantly CO2 is not on that list.
If the stack emissions are what IsleChem says they are then the stack test is about demonstrating the lack of pollutants rather than getting a permit to discharge pollutants.
After demonstrating that there is nothing but CO2 being discharged permits should be issued pretty quickly.
Permits are issued based on facilities and processes.
The tankage permits for the property are already issued. The blending process permits are already issued. The facilities and processes for that have already been inspected and permitted.
I'm not familiar with NY law on these issues so I can't be sure that the permits travel with the ownership of the property like they do in states that I am familiar with.
Consider that if an oil refinery is sold, the whole refinery doesn't have to go through the permit process again. I don't see this as being any different.
If someone has more specific knowledge of NY law/procedures on this could chime in, it would be most appreciated.
You are welcome to your opinion.
I asked you a straight question. Given the reality of the situation what would you do if you were making the decisions?
I'm all for communications from the company.
The problem here is that they have nothing to communicate.
Squeeze all you want, but there is no blood in this turnip. At least right now.
The company is a the mercy of the Federal Govt. That is all their is to it.
What kind of effect do you suppose a PR that says "we still haven't got any TO's yet" will have on the share price compared to saying nothing?
You mostly don't think.
One of the best forms of security is to not advertise.
Just what is it that you think people that took the tour might know that you don't?
You constantly tell us how smart you think JB is. If he is that smart, do you think he'd tell 100 people material information and not expect to get his butt in a sling?
Material information is information that can affect the stock price.
Looking at the present stock price, the only material information that could have been disclosed must have been negative. And we sure didn't hear anything but positive reviews from the folks that went on the tour. So quit worrying about what the people that went on the tour found out.
Very interesting. I just got a partial fill @ $3.66 just before the price ran up.
Very strange.
I confess that I just don't see what the problem some posters have with the non-disclosure agreement.
No one who attended the tour has indicated that there was any information provided to them that they consider material.
Just because a company chooses to keep some information confidential doesn't mean that information is material in the SEC sense.
Any shareholder had the option of attending the meeting and the tour. I would very much liked to have done that my self, but didn't consider the trip worth the expense. That was my personal choice.
What the people on the tour saw was the company doing things that it had already announced it was going to do.
It seems it that common sense is a misnomer. It isn't common at all.
The same rules do apply to all JBII investors.
Any investor that wanted to go on a tour had to sign a non-disclosure agreement. IF you didn't sign, you didn't go.
If you chose not to go on the tour, that was your choice.
I just went back and reread JB's comments as posted here and I misread the requirement. JB specifically mentions average volume and says the $4 for 90 days is not in play.
My bad.
Uplisting could be in jeopardy.
How does NASDAQ measure compliance with the bid price requirement for initial listing for seasoned issuers?
NASDAQ's rules require that issuers meet a minimum bid price requirement of $4 per share for initial listing on The NASDAQ Stock Market. Seasoned issuers must meet the applicable requirement on the date NASDAQ approves their listing application and are expected to list promptly thereafter.
For an issuer traded on a non-listed market, promptly generally means within five business days of approval. However, in the case of issuers listed on another exchange, promptly generally means within fifteen business days of approval, to take account the additional time required to effect the transfer from the other market.
Note: A company that qualifies for listing only under the market value of listed securities standard must also meet the bid price requirement for 90 consecutive trading days prior to applying for listing. (Updated: December 17. 2008)
http://www.nasdaq.com/about/FAQsInitial.stm#15
We have not met that requirement yet. If we close below $4 it looks like the 90 period will start over.
Have you ever noticed that a replaced accounting firm is never very responsive to the new firm in turning over information?
I'm saying that a buyback plan is nonsensical at this point.
It's like going to war with the French on your side.....You can do it but what's the point.
If you mean that management should spend their own money to buy shares, that isn't a buy back, it's called investing.
If you mean that the company should use it's current cash to buy back shares, that would be a seriously poor choice in applying resources for the best benefit to the company and the shareholders.
As if taking a $1/yr salary doesn't indicate faith in the company.
Of course giving back 31 mil shares to the company must indicate that the CEO feels those shares are worthless and so that is a negative outlook by the CEO... LOL
It is amazing how differently the traders look at the situation as compared to the fundamentals based investors.
My own self..... Picked up another chunk. Up already on the new shares.
That sounds pretty good to me.
Thanks.
OH NO !!!!! JBII is producing SOYLENT GREEN....
SELL now and save the world.
It's a government conspiracy.
I really wish that people wouldn't describe this process as requiring no energy input.
That is just not correct.
The process consumes 4% of the hydrocarbon output in running the process.
To my way of looking at these things it would be much more accurate to say that the natural gas produced by the process is more than sufficient to power the process.
If they are going to sell the some of the natural gas produced by this process then you have to consider that any gas used by the process is gas that could have been sold. So the gas used in running the process isn't free. It is cheaper than buying electricity or natural gas because we are getting it at wholesale prices, but it isn't free.
I apologize to those of you who think I'm being picky. Anyone who has ever done a process energy budget or a full cost analysis will understand why I look at this from this perspective.
Spring is correct in one regard. JB can ask the board to convert his prefs into common shares. If the board refuses JB can elect a new board to his liking.
There would be lawsuits I'm sure but in the end I suspect that he would be able to do it.
I'm not suggesting that JB will do anything like that. Everything so far indicates that JB is not a person that would stoop to that level of manipulation.
When a single person has voting control of a company with more than 51% there is always a possibility of that person running the company strictly for personal gain to the detriment of the minority stockholders.
It is a case of having to trust in the integrity of that person.
I think we are in good hands.
There is a difference between an impediment and a big plus.
Gately was an adequate accounting firm that met the standards of the NAZDAQ for up listing purposes, therefore not an impediment to up listing.
The new firm exceeds the requirements of the NASDAQ and has an above average reputation in the accounting world. The NAZDAQ will see this is a positive when reviewing the application for uplisting.
They see JBII as choosing a very skilled and knowledgeable firm to use as JBII grows and moves forward. An accounting firm that can offer high quality advice on growth and financial organization.
Rather like JBII choosing to use IsleChem for process characterization and optimization. JBII again has chosen to work with the best qualified folks in their respective area.
Some other posters see any change in accountants as an unqualified bad thing. In this case, it looks like a step up in quality and skill level of the accounting services to me.
Got off the phone with Mr Grannatt a few minutes ago.
The next PR is in the hands of DOS to obtain approval. Been modified twice at DOS's request so far.
Depending upon what DOS finally approves there may be additional information compared to the prior Stanley PR.
There is work going on at the Biometrics side on product development at a pace consistent with company that is preserving cash pending additional revenues.
Not much new information, but then MR. G is quite careful in what he says as is consistent with staying on the right side of reg SHO.
Have a good weekend.
Steady_T
I suggest that you spend a little time looking into rfid tag technology. It would seem that you are a bit behind the present state of the art.
<snip>
RFIDs are easy to conceal or incorporate in other items. For example, in 2009 researchers at Bristol University successfully glued RFID microtransponders to live ants in order to study their behavior.
<snip>
At the same time new integrated circuits (ICs) were introduced by Alien, Impinj and NXP (formerly Philips) which proved much better performance and the IT Asset Tracking application exploded. The largest adopter to date appear to be Bank of America and Wells Fargo – each with more than 100,000 assets across more than a dozen data centers.[18]
<snip>
Staggering... and about to trip and fall. Sigh.
Msg already answered. EOM
And why would you make a statement like that?
DEC is interested in what waste products and byproducts that are released into the environment.
The fuels outputs are captured and sold as known end products.
Unless JBII is planning on releasing natural gas into the atmosphere in an unburned state DEC isn't going to be interested.
From what I have read (I have limited experience with IPO's) getting into an IPO has more to do with your relationship with your broker than anything else. If that is so then getting into an IPO doesn't really mean much to the company unless you buy a large enough number of shares to affect voting for board members and the like.
Thanks for posting the 4 part video presentation. I just finished watching it. Makes me feel even better about the shares I own. and with luck will own.
Steady_T
My broker (TDAmeritrade) has a feature called streaming last sale.
That shows each transaction as it is posted to the tape. It show time of sale, price and size.
Most brokers have capabilities like that.
Only 200 shares got filled at $4.05..... I tried for some my self but no joy.
I did pick up some at $4.35 that I'm pretty happy about.
Rawnoc... PLEASE STAY ON TOPIC.....Negatvitiy and the sure path to ruin & failure are the approved topics here.
Oh... wait..... that what you were discussing.....Carry On !!
I suspect that is about SOX or NASDAQ requirements for independent directors.
Just my opinion.
I think that it is more likely that Quest orchestrated this move.
I can think of several possibilities.
One is that Quest sees the prostate test as so important that they send Dr. Albitar to oversee the final stages to make sure all goes well.
Maybe the test has run into some problems. Quest sees this as a huge money maker and sends Dr. Albitar to fix the problems and get the show back on the road.
I like the other possibility suggested that Dr. Albitar has been sent over to generate new tests based upon how the prostate test has developed. Quest sees a whole new approach to many tests and wants to maximize the process.
Perhaps Dr. Albitar made the decision to move on his own because of what he has seen with the prostate test development and wants to be where the action is.
I see more positive scenarios than negative ones. Alas, the truth is that we just don't know at this point.
Sigh
And you know that the tape business ISN'T making money HOW?
"seems a bit fiscally irresponsible to me to not be making easy money while just waiting for permits and "game over" on P20......"
Seems a bit irresponsible to be making claims of fiscal irresponsibility without any facts upon which to base that claim.
Last information I saw was that there was a three man crew operating the tape systems.
Do you have any information to the contrary?
As I understand the tape business, it shouldn't require much of JB's time. Most of the development work has been done so at this point it should mostly be a matter of mounting tapes and allowing the hardware and software to do their thing.
The only thing that should require JB's attention is if they run across a tape formatting that hasn't been seen before. That might require JB's attention.
As long as the question is when and not if, I'm good.
There is such a thing as legal blackmail. The theory is that it is cheaper to settle than it is to fight the suit even if you know you are going to win.
Than maybe be what is going on here. Q thinks that it is cheaper for the company to settle than it would be to give him what he wants.
As for a lawyer not representing him unless there was a written contract provision, that is nonsense. If Q is paying the hourly rate an attorney would advise him that the suit is a low probability of success, then take his money and file the suit.